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Altcoins, including Ethereum, Solana, Litecoin, Cardano also witnessed an upward movement. Ethereum was up 0.30 per cent to consolidate at $2,564.52.
BTC futures open interest rose by 10.65% from last week to $74.35B, led by Binance with $12.28B, signaling growing leverage in the market.
Bitcoin Price Today: The popular cryptocurrency Bitcoin is inching towards its all-time high. According to Binance, the current price of Bitcoin is Rs 107,666 at 10:00 am, which is just a 1.50 per cent low from its all-time high of $109,114.871. Though Bitcoin is experiencing a consolidated phase.
“The crypto market remains in a consolidation phase, with Bitcoin repeatedly testing the $106,000 level but facing resistance, while Ethereum struggles to sustain above $2,700,” Himanshu Maradiya, Founder and Chairman, CIFDAQ argued.
“Despite a small drop in the volume, the markets have surged, which indicates a drop in the bearish interference,” CoinDCX research team said.
BTC futures open interest rose by 10.65% from last week to $74.35B, led by Binance with $12.28B, signaling growing leverage in the market. nstitutional demand also played a role, with U.S. spot BTC ETFs recording net inflows of $41.7M yesterday, marking their fifth consecutive day of inflows, said Coinswitch team desk.
The current market capitalization of Bitcoin stands at $2.12 trillion, with volume of $50.38 billion.
Ethereum, Solana Also Rise
Altcoins, including Ethereum, Solana, Litecoin, Cardano also witnessed an upward movement. Ethereum was up 0.30 per cent to consolidate at $2,564.52, XRP also gained to trade at $2.37.
“Big moves could be on the horizon, as some rumors suggest Coinbase could acquire USDC issuer Circle, despite IPO plans. Besides, Texas has just passed the Texas Strategic Bitcoin Reserve and Investment Act, allowing the state to invest in Bitcoin, which now awaits the governor’s approval, stated CoinDCX research team.
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